Texas House plans to pass ‘largest property tax decrease ever,’ Speaker Dade Phelan says

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Texas House plans to pass ‘largest property tax decrease ever,’ Speaker Dade Phelan says
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The Texas House will diverge from the Senate and pass a sweeping property-tax relief package this session that includes businesses, not just homeowners,...

Write through includes reactions from Lt. Gov. Dan Patrick and others.

Under an amendment to the Texas Constitution voters approved in 1997, the appraisal for a home declared as a homestead may not increase more than 10% a year. Phelan said spiraling real estate values make notices of new appraisals traumatic. Even though Phelan said his chamber would apply them to commercial property, most businesses have a lot of personal property, such as equipment and computers. That depreciates, instead of appreciates. So their appraisals increase more slowly than residential property does, Craymer said.

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